You’re right.
I wonder what are real requirements for debit/credit cards and terminals.
Virtual e-commerce it’s definitively not.
I could imagine existing self-service terminals like gas stations or park houses.
But any physical shop, for example, could put a printed QR-code in front of his counter. And a consumer device like his smartphone to verify the confirmed incoming transfer. If he want one receiving address per transaction it could be an app generating the QR-codes on the fly. All without any intermediates then the blockchain.
It’s not just about ADA-to-USD (or any fiat) conversions. The card is the key to establishing ADA as a mainstream currency beyond the crypto-sphere. The card will enable ADA to compete directly with fiat in the wild because it will tap into the already-existent behavior patterns of consumers worldwide, which revolves our credit card-based transactions.
I would not underestimate the importance of the card-based mode of payment. It will do more to increase ADA acceptance and usage than anything else the team could do.
In the live Youtube interview tonight, Charles explained the basic roadmap for Ouroboros and talked about Ouroboros Hydra which they expect can get up to 10,000+ tps.
The basic stepping stones are:
1 - Ouroboros (current, not optimized for speed)
2 - Ouroboros Praos - Optimized for ‘real world’ running
3 - Ouroboros Hydra - Here you will have many ‘epochs’ happening at the same time and so blocks can be made simultaneously, and that is what cranks up transaction speed extremely high. I don’t know if this becomes a DAG structure or if the epochs then simply get aligned into a blockchain, but either way I was very excited to hear about Hydra as it will do away with the current block limitations.
Basically Charles said that they each phase of Ouroroboros lays down more foundation, for the epochs, committee selection, etc. and Hydra is when everything comes together after all the underlying data structures are well proven.
So this may take time but they have an incredible roadmap for the next iterations and I think it’s going to blow everything else out of the water once it all comes to fruition.
(I don’t have time to find the specific sections above and I might have ‘over summarized’ but you can find all the details in this interview) :
https://www.youtube.com/watch?v=pcNDSSmkgkA&feature=push-lsb&attr_tag=R63chCLzjQM735NW-6
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